Wundrsight and Centricity Raise Funds for Growth
Two startups, Wundrsight and Centricity, have raised new funding to grow in the fields of digital health and wealthtech.
Wundrsight, a mental health startup, has raised $400K in seed funding. Inflection Point Ventures led the round, with support from Social Alpha and angel investors. This money will help Wundrsight form partnerships with hospitals and clinics in India. It will also speed up the development of its Virtual Reality (VR) mental health therapy tools.
Founded by Raunak Swarnkar, Wundrsight uses VR to make mental health treatments easier to deliver. The startup already operates in three big cities. It has deals with more than five hospitals and is working to build more partnerships with both private and government hospitals.
Wundrsight offers over six VR therapy tools for mental health issues like substance abuse, OCD, anxiety, phobias, and autism. So far, it has treated more than 1,000 patients with therapies run by clinicians.
Wundrsight has key partners like Meta (formerly Facebook), DLabs, IIT Mandi Catalyst, and NASSCOM. With India's mental health market expected to grow from $6.89 billion in 2023 to $62.86 billion by 2032, Wundrsight is well-placed to meet this demand.
Centricity, a wealthtech startup based in Gurugram, has raised $20 million in seed funding. Lightspeed led the round, with support from Paramark VC, Burman Family Office, and angel investors like Ritesh Agarwal, Vishal Dhupar, and the MS Dhoni Family Office. This brings Centricity's value to $125 million, up from $20 million in 2022.
The funds will help Centricity grow its two main platforms, Invictus and One Digital. The company will invest in tech, expand private banking services, and make strategic acquisitions. It also plans to double its tech team to 150, with a focus on generative AI, insurtech, and broking-tech.
Founded by Manu Awasthy in 2022, Centricity offers tools to help financial advisors manage and sell financial products. These tools boost the productivity of independent financial product distributors (FPDs) and single-family offices (SFOs).
The wealthtech sector has grown quickly. Since October 2023, Indian startups have raised over $200 million in 12 deals, according to TheKredible. Recent fundraisers include Neo ($48 million), Dezerv ($32 million), and Syfe ($27 million). Centricity’s success is part of this growth in wealthtech.